Indian Economy on the Eve of Independence | Economics Class12 NCERT | Animation
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India's economy suffered under British colonial rule, transitioning from self-sufficiency to a raw material supplier with weakened industries and poor social development indicators. Independence in 1947 required significant reforms to undo the economic impact of British policies.
Insights
- British colonial policies shifted India from self-sufficiency to reliance on Britain for raw materials and finished goods, leading to a decline in agriculture and handicraft industries due to oppressive land systems and lack of technology.
- Under British rule, social development indicators in India were poor, with low literacy rates and infrastructure primarily benefiting Britain. Independence in 1947 necessitated significant reforms in agriculture, industry, trade, and infrastructure to address the economic impact of British rule.
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Recent questions
How did British policies impact India's economy?
British policies shifted India to become a raw material supplier for Britain's industries, leading to a decline in agriculture and hindering the establishment of modern industries in India.
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Summary
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Impact of British Colonial Rule on India's Economy
- India's economy was self-sufficient before British rule, with a focus on agriculture and globally renowned handicraft industries. However, British policies shifted India to become a raw material supplier for Britain's industries and a consumer of their finished goods, leading to a decline in agriculture due to oppressive land settlement systems and lack of technology.
- Colonial policies aimed to make India a market for British goods and hindered the establishment of modern industries in India, causing the downfall of the famous handicraft industry and an increase in unemployment. While some textile and other industries emerged, the foundation of India's industries was weakened, with Britain controlling much of India's trade.
- Social development indicators in India under British rule were poor, with low literacy rates, high mortality, and infrastructure developments primarily benefiting the British, such as railways and ports for easy transportation of raw materials. Independence in 1947 brought the need for significant reforms in agriculture, industry, trade, and infrastructure to address the economic impact of two centuries of British rule.
